A study on values sensu Schwartz among 7- to 14-year-olds (N = 121) and their parents (N = 43) is reported. Children and parents indicated own value preferences and perceived value preferences of their respective parents, thereby indirectly including as a third generation the children's grandparents. The children's value preferences are structured in accordance with the higher-order value types of Schwartz (self-transcendence vs. self-enhancement, openness vs. conservation). The ten single values, however, are not structured as postulated by Schwartz. Similarity between the children's own values and perceived parental values is high and essentially constant over the children's entire age-range. Despite this finding, there is also evidence for intergenerational value change. Along the generational sequence mean preferences decrease for conservation values and increase for openness values - consonant with theories of an emancipatory value change in postindustrial societies